Karmashares LLC is out to enhance the functionality of the Karmacoin. The coin has similar attributes to those of Bitcoin and Litecoin and is a digital currency like any other with an operation notion of “doing good.” Currently, the US-based platform is working toward coming up with long-term sustainability plans for the Karmacoin with all current and potential holders in mind. The aim is to come up with an end product that would be useful in revenue generation.
How Does Karmashares Work?
According to the information on the Karmashares platform, all interested Karma holders will undergo scrutiny before acceptance. After that, the qualifying holders will get a percentage of the Karmashares profits, which will then get into quarterly distributions to members depending on their owned Karmashares. Through this, the more you invest, the more the benefit you stand to receive. However, for one to access the shares, they have to seek private means as they aren’t available on public display. Also, all US residents and resident aliens don’t get the opportunity to own any shares as it’s only available to non-citizens.
Unlike other platforms that accept the exchange of coins as part of the investment, Karma doesn’t see that as one. But instead, members get the option to decide the various on platform causes to support. Here users get to donate their Karma and other cryptocurrencies without pressure. You can also choose not to donate at all, and that won’t affect your shares or benefits. There is also no dividends guarantee in place for all exchanges in Karma for membership. The platform seeks to make itself profitable through the notion of “doing good to receive well.” They believe that by giving back to their community, word will spread around for their good deeds, thus bringing more people on board for better profitability.
Should I Join Karmashares?
As a user, you benefit from gaining points the moment you exchange your coins for shares. The points get a conversion to Karmashares that would dictate how much profit one receives. The best part, however, is you get to monitor the progress of your wallet and those of others to obtain accurate information on the exchange of coins, points you earn and points you need to claim. However, the number of points you owe doesn’t stand to change even in the future, unless you sell them to someone else. There is also confirmation on transactions within a twenty-four-hour period.
There are also other supportive features in place such as the Karma card, karma rewards, and karma.me
However, as much as we would want to believe the promises of this platform, the fact that all transaction details are still private, doesn’t give room for substantial critique. We feel that they are hiding so too much information that could be used to help potential information in making decisions. Also, there is an exclamation about the dangers of exchanging coins, with users standing to lose everything. Therefore, you should swap what you can stand to lose.
Conclusion On Karmashares LLC
Karmashares LLC is well organized to be a scam. And even though we can’t tell for sure how much investments it has been able to get so far, it seems to work for some people. But we feel this could be much better if there is sufficient information to help people in sober decision-making.